The Commonwealth Bank continued to offer card limit increases to a young man deep in credit card debt after he told them he had a gambling problem.
The banking royal commission heard evidence from David Harris, who racked up over $35,000 in debt on CBA credit cards.
Mr Harris is one of more than 2,500 people to date to make a public submission to the royal commission.
He told the hearing he had never had a credit card before, but applied for one in late 2014 to fund dental work and a trip back home to England.
He was approved for a $10,000 credit card with the Commonwealth Bank.
He initially paid it off frequently but in the first half of 2015 he began gambling regularly, transferring cash from the credit card to his CBA transaction account…
Read the full article at: http://www.radioaustralia.net.au/international/2018-03-22/banking-royal-commission-commonwealth-bank-offered-gambler-credit-card-limit-increases/1744468